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3.4 mln EPF members make RM8.9 billion Flexible Account withdrawals - Amir Hamzah

3.4 mln EPF members make RM8.9 billion Flexible Account withdrawals - Amir Hamzah

The transfer to Retirement Account increased members' savings, with the addition of 43,000 new members having reached basic savings level.
Thu Jul 25 2024
3.4 mln EPF members transfer RM10.86 bln to flexible account as of June 10

3.4 mln EPF members transfer RM10.86 bln to flexible account as of June 10

These withdrawals can be accommodated by EPF's current cash balance, net cash inflows from contributions, maturities and investment income.
Thu Jun 27 2024
RM24.2 mln withdrawal fraud: All suspects received commissions of RM100,000 to RM240,000

RM24.2 mln withdrawal fraud: All suspects received commissions of RM100,000 to RM240,000

Police suspect the mastermind is skilled in forging IDs and fingerprints to facilitate withdrawals.
Fri Jun 21 2024
RM24.2 million fraud: Cops detained 13 individuals, including four bank employees

RM24.2 million fraud: Cops detained 13 individuals, including four bank employees

The individuals have been detained to assist the investigation of fraudulent withdrawals from several fixed deposit accounts.
Wed Jun 19 2024
Account 3 withdrawals have no influence on EPF's investment strategy - EPF CEO

Account 3 withdrawals have no influence on EPF's investment strategy - EPF CEO

The EPF's overall investment assets stand at RM1.2 trillion, so these withdrawals are actually manageable, says CEO Ahmad Zulqarnain Onn.
Thu Jun 13 2024
EPF's Account 3: Avoid impulsive withdrawals, financial planning crucial - Experts

EPF's Account 3: Avoid impulsive withdrawals, financial planning crucial - Experts

The ability for EPF to withdraw funds from Account 3, especially upon retirement, presents both opportunities and challenges.
Thu May 09 2024
M'sia mulls giving full tax exemption on emergency PRS withdrawals

M'sia mulls giving full tax exemption on emergency PRS withdrawals

Malaysia is considering to provide full tax exemptions on withdrawal from private retirement scheme (PRS) funds for emergency purposes.
Wed May 08 2024
Govt finalising EPF Flexible Account details - Ahmad Maslan

Govt finalising EPF Flexible Account details - Ahmad Maslan

Deputy Finance Minister Datuk Seri Ahmad Maslan says the Flexible Account's aim is to assist EPF members for withdrawals during emergencies.
Mon Oct 23 2023
PM Anwar reiterates no more EPF withdrawals

PM Anwar reiterates no more EPF withdrawals

In addition to his call for no further withdrawals, Anwar has also proposed that the EPF increase its domestic investments to 70% of its total investments, up from 64% last year.
Mon May 08 2023
EPF withdrawal: Govt will not adopt populist approach, says Rafizi

EPF withdrawal: Govt will not adopt populist approach, says Rafizi

Rafizi said taking the money out of the EPF would drastically reduce its fund size and severely impact the fund manager's flexibility.
Tue Mar 21 2023
Govt urged to consider remaining funds of contributors before allowing EPF withdrawals

Govt urged to consider remaining funds of contributors before allowing EPF withdrawals

Amirudin said the remaining savings of contributors are becoming more worrying following several special withdrawal initiatives.
Mon Feb 20 2023
Median EPF savings of all Malaysians down 50pct, that's why no more withdrawals allowed - Ahmad Maslan

Median EPF savings of all Malaysians down 50pct, that's why no more withdrawals allowed - Ahmad Maslan

More than RM145 bln was withdrawn by 8.1 mln individuals during the pandemic under four special withdrawal schemes, Ahmad Maslan said.
Thu Feb 16 2023
Govt to find ways to reduce people's financial stress without withdrawing EPF savings

Govt to find ways to reduce people's financial stress without withdrawing EPF savings

Anwar said the people had already been allowed to make several EPF withdrawals before, which caused their retirement amount to decline.
Thu Feb 09 2023
Another round of EPF withdrawals not viable, warn economists

Another round of EPF withdrawals not viable, warn economists

Previous withdrawals have already left millions without pension savings, forcing them to work beyond retirement.
Tue Jan 31 2023
Best for govt to look for other options than special EPF withdrawals - Anwar

Best for govt to look for other options than special EPF withdrawals - Anwar

PM Anwar said the government will have to consider the plight and the future of EPF contributors before they are allowed another round of special withdrawals.
Mon Jan 16 2023
ISIS Malaysia's perspective of Budget 2025

ISIS Malaysia's perspective of Budget 2025

An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Fri Oct 18 2024
Budget 2025: Record increase in STR, SARA aid initiatives

Budget 2025: Record increase in STR, SARA aid initiatives

The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Fri Oct 18 2024
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar

Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar

The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
Fri Oct 18 2024
What policies to expect from Indonesia's new President Prabowo

What policies to expect from Indonesia's new President Prabowo

Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Fri Oct 18 2024
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS

Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS

The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Fri Oct 18 2024
Israel sends more troops into north Gaza, deepens raid

Israel sends more troops into north Gaza, deepens raid

Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Fri Oct 18 2024
Indonesia ramps up security ahead of Prabowo's inauguration

Indonesia ramps up security ahead of Prabowo's inauguration

Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Fri Oct 18 2024
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods

Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods

Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Fri Oct 18 2024
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM

Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM

Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
Fri Oct 18 2024
NFOF will be operational in November 2024 with funding of RM1 bil

NFOF will be operational in November 2024 with funding of RM1 bil

PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Fri Oct 18 2024